Spacenet Enterprises India Limited has informed the Exchange regarding Notice of Postal Ballot
SPCENET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Spacenet Enterprises India Limited has issued a postal ballot notice for shareholders' approval on four key matters. The company proposes to alter its object clause to expand into new business areas including real estate development, co-working spaces, defence and aerospace technology, HR services, and renewable energy/electric vehicles. It also seeks approval to raise up to Rs. 200 Crores through equity shares or convertible securities via private placement or Qualified Institutions Placement (QIP). Additionally, shareholders are being asked to re-appoint Mr. Prathipati Parthasarathi (DIN: 00004936) as Independent Director for a second 5-year term starting 30 April 2026, along with a separate approval for his continuation as he is above 75 years of age. Remote e-voting opens on 29 March 2026 and closes on 29 April 2026.
If approved, the fund raise of up to Rs. 200 Crores could lead to dilution of existing shareholders depending on the issue size and pricing. The object clause expansion signals a major diversification move into real estate, defence, HR tech, and clean energy sectors. The postal ballot results will be announced within 2 working days after 29 April 2026.